BLM Utah Geothermal Lease Sale Results
Contact: Lola Bird, 801-539-4033
Salt Lake City, Utah—December 19, 2008—In BLM Utah’s competitive geothermal lease sale, the Bureau of Land Management sold 44 parcels on 144,372 acres for a total of $5,695,672. The highest bid was from Ormat Nevada, Inc., located in Reno, NV at $130 per acre on parcel number 43 for a total of $665,600. Bids ranged from $2 to $210 per acre. All bonus bid, rental and royalty monies collected are shared equally with the State of Utah.
Parcels in Idaho, Oregon and Washington were also offered at the Utah sale. Total revenue from the three Idaho parcels was $59,828. The highest bid for an Idaho parcel was from Kodali, Inc., located in Reno, NV at $5.25 per acre. Bids on these parcels ranged from $2 to $8.50.
Total revenue from the 11 Oregon/Washington parcels was $787,025. The highest bid for an Oregon/Washington parcel was from Ormat Nevada, Inc., located in Reno, NV at $35 per acre. Bids on these parcels ranged from $2 to $35.
Geothermal energy accounts for 8.5 percent of renewable electricity generation, and 0.3 percent of total U.S. electricity supply. Almost 50% of the nation's production of geothermal energy is on federal land. Utah’s current geothermal production is in primarily in Beaver County where two plants produce 24 megawatts per year.
The Bureau of Land Management administers 29 geothermal power plants, using federal resources in California, Nevada and Utah. The power plants have a total capacity of 1250 megawatts and supply the needs of 1.2 million homes. Geothermal energy uses steam and hot water generated by heat from the earth. Some geothermal power plants use steam or hot water from a natural underground reservoir to power generators for electricity generation. Others use hot water to provide direct heat for residential and other buildings, and for other applications. For more information, contact the BLM Utah Information Access Center at 539-4001 or see www.ut.blm.gov.
Dec. 2008 Utah Geothermal Lease Sale Results Summary | |
Parcels Offered for Auction | 44 |
Parcels Sold | 44 |
% Parcels Sold | 100% |
Acres Offered | 144,372 |
Acres Sold | 144,372 |
% Acres Sold | 100% |
Average Bid/Acre Sold | $37.41 |
Average Bid/Parcel | $122,744.05 |
Highest Bid/Acre: | $210 |
Parcel with High Bid/Acre: | 1 |
Highest Bid/Parcel: | $665,600 |
Parcel with High Total Bid | 43 |
Total Bonus Bid | $5,400,738 |
Total Rental Due | $288,774 |
Total Administrative Fees Due | $6,160 |
Total Receipts Due | $5,695,672 |
Totals include bonus bids, first year’s rental and processing fees.
Dec. 2008 Idaho Geothermal Lease Sale Results Summary | |
Parcels Offered for Auction | 3 |
Parcels Sold | 3 |
% Parcels Sold | 100% |
Acres Offered | 8,676 |
Acres Sold | 8,676 |
% Acres Sold | 100% |
Highest Bid/Acre: | $5.25 |
Highest Bid/Parcel: | $19,330.50 |
Total Bonus Bid | $42,054 |
Total Receipts Due | $59,828 |
Dec. 2008 Oregon/Washington Geothermal Lease Sale Results Summary | |
Parcels Offered for Auction | 11 |
Parcels Sold | 11 |
% Parcels Sold | 100% |
Acres Offered | 41,362 |
Acres Sold | 41,362 |
% Acres Sold | 100% |
Highest Bid/Acre: | $35 |
Highest Bid/Parcel: | $154,105 |
Total Bonus Bid | $702,755 |
Total Receipts Due | $787,025 |
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